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PORTLAND, OR-Crow Holdings, a privately held diversified investment group based in Dallas, announces the $42-million acquisition of the Thorncroft Farms apartments by CHRP IV LP, its latest real estate fund. This 340-unit class A property resides in the 850-acre Tanasbourne master-planned community in Portland's Sunset Corridor in Hillsboro, 10 miles west of Portland.

The 13-acre, 16-building garden-style apartment community is located within the master-planned Tanasbourne community. It offers a clubroom, business and conference center, heated swimming pool and Jacuzzi, sunning deck, gas barbeque grills, fitness center and garages. Occupancy is currently 97%.

Thorncroft Farms last changed hands shortly after it was completed in 1998. That's when the developer, Trammell Crow Residential affiliate TCR #530 Cornell Development MP, sold the property to Tanasbourne Cornell LLC of Kirkland, WA for $24.36 million, or $72,664 per unit, according to Washington County Records. Tanasbourne Cornell LLC's sale to CH Realty IV/Thorncroft LLC about 10 days ago translates to $123,539 per unit.